WATSON ECONOMIC DEVELOPMENT GROUP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
WATSON ECONOMIC DEVELOPMENT GROUP
Largest movements
- Tangible fixed assets +€16,568
up €16,568 (+327%), from €5,069 to €21,637
of which Furniture and vehicles: +€16,998
- Cash -€2,821
down €2,821 (-48.2%), from €5,854 to €3,033
mainly Investment in fixed assets (net) (-€22,194) and Other debts (-€5,970)
- Receivables within one year -€1,678
down €1,678 (-13.0%), from €12,884 to €11,206
of which Other amounts receivable: -€1,240
- Intangible fixed assets -€577
no longer reported in 2025 (was €577)
- Debts after one year +€10,892
new in 2025: €10,892
- Other debts -€5,970
down €5,970 (-87.9%), from €6,790 to €820
- Current portion of long-term debt +€4,797
new in 2025: €4,797
- Tax, wage and social debts +€2,224
up €2,224 (+31.8%), from €7,001 to €9,225
- Other operating charges +€6,561
up €6,561 (+244%), from €2,688 to €9,249
- Depreciation +€4,146
up €4,146 (+202%), from €2,056 to €6,203
- Gross operating margin +€4,099
up €4,099 (+27.0%), from €15,181 to €19,280
- Taxes -€865
down €865 (-32.3%), from €2,678 to €1,813
- Financial charges -€230
down €230 (-16.0%), from €1,438 to €1,207
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,800 | €38,423 | +€11,623 | +43.4% |
| Fixed assets | 21/28 | €5,646 | €21,637 | +€15,991 | +283% |
| Intangible fixed assets | 21 | €577 | - | -€577 | |
| Tangible fixed assets | 22/27 | €5,069 | €21,637 | +€16,568 | +327% |
| Plant, machinery and equipment | 23 | €1,269 | €839 | -€430 | -33.9% |
| Furniture and vehicles | 24 | €3,800 | €20,798 | +€16,998 | +447% |
| Current assets | 29/58 | €21,155 | €16,786 | -€4,368 | -20.6% |
| Amounts receivable within one year | 40/41 | €12,884 | €11,206 | -€1,678 | -13.0% |
| Trade receivables | 40 | €10,127 | €9,689 | -€438 | -4.3% |
| Other amounts receivable | 41 | €2,758 | €1,517 | -€1,240 | -45.0% |
| Cash at bank and in hand | 54/58 | €5,854 | €3,033 | -€2,821 | -48.2% |
| Deferred charges and accrued income | 490/1 | €2,416 | €2,547 | +€131 | +5.4% |
| Total equity and liabilities | 10/49 | €26,800 | €38,423 | +€11,623 | +43.4% |
| Equity | 10/15 | €11,756 | €11,756 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,798 | €5,798 | = | 0.0% |
| Distributable reserves | 133 | €5,798 | €5,798 | = | 0.0% |
| Profit (loss) carried forward | 14 | €958 | €958 | = | 0.0% |
| Amounts payable | 17/49 | €15,045 | €26,668 | +€11,623 | +77.3% |
| Amounts payable after more than one year | 17 | - | €10,892 | +€10,892 | |
| Financial debts | 170/4 | - | €10,892 | +€10,892 | |
| Amounts payable within one year | 42/48 | €15,045 | €15,775 | +€731 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | - | €4,797 | +€4,797 | |
| Trade debts | 44 | €1,254 | €933 | -€320 | -25.6% |
| Suppliers | 440/4 | €1,254 | €933 | -€320 | -25.6% |
| Taxes, remuneration and social security | 45 | €7,001 | €9,225 | +€2,224 | +31.8% |
| Taxes | 450/3 | €7,001 | €9,225 | +€2,224 | +31.8% |
| Other amounts payable | 47/48 | €6,790 | €820 | -€5,970 | -87.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,056 | €6,203 | +€4,146 | +202% |
| Other operating charges | 640/8 | €2,688 | €9,249 | +€6,561 | +244% |
| Gross operating margin | 9900 | €15,181 | €19,280 | +€4,099 | +27.0% |
| Operating profit (loss) | 9901 | €10,436 | €3,828 | -€6,608 | -63.3% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €1,438 | €1,207 | -€230 | -16.0% |
| Recurring financial charges | 65 | €1,438 | €1,207 | -€230 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €9,003 | €2,620 | -€6,383 | -70.9% |
| Income taxes | 67/77 | €2,678 | €1,813 | -€865 | -32.3% |
| Profit (loss) for the period | 9904 | €6,326 | €808 | -€5,518 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,326 | €808 | -€5,518 | -87.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.